Buhari govt announces first year-long spending, proposes N6trn budget

The Muhammadu Buhari-led federal government on Monday proposed a budget of N6 trillion for 2016 at an oil bench mark of 38 dollar per barrel.

The planned spending is the first for the administration of Mr. Buhari, who took office in May 2015.

The minister of Budget and National Planning, Udoma Udoma, stated this while addressing State House Press Corps after an emergency Federal Executive Council meeting presided over by President Muhammadu Buhari.

The minister said the proposal was contained in the Medium Term Expenditure Framework, MTEF, approved by the council.

“At today’s council, the council approved the Medium Term Expenditure Framework.

“This sets out the policies of government over the next three years. It sets out the fundamental economic underpinning of the budget.

“The highlights are as follows. We project and we are working with 38 dollar crude oil price.

“We consider that to be very conservative but because of the uncertainties, we feel that we should start with a conservative crude oil price.

“We also are working with 2.2 million barrels per day production.

“We believe it is achievable, particularly because with the passage of the Petroleum Industry Bill, which we are working to achieve, we believe that that is actually a modest figure; that we should be able to produce something higher than that.

“And so, next year we are looking at an expansionist budget. We are looking at a budget that will be N1 trillion more than last year.

“So we are looking at a budget of about N6 trillion. Last year’s budget, including the supplementary, was about N5 trillion.

“Most of the increases, all the increases actually will be spent on capital because there is the need to increase the capital spending because of our infrastructure issues we have to address,” he said.

According to him, the plan would be submitted to the National Assembly and a feedback expected after which the budget will be finalised with all the details embedded.

The minister said the funding for the budget would come from earnings from the non-oil sector.

“We are looking at trying to get more money from the various government agencies, policing their collection and trying to get more money from them.

“We will also look at keeping down our recurrent budget, which means we are looking at savings that we can make from overheads.

“We will also look at the deficiency from our revenue collecting agencies like the FIRS, in terms of companies income tax; in terms of VAT, and then the difference we will have to borrow.

“But the level of borrowing that we anticipate and we are projecting will be well within the maximum that we allow, which is three per cent of the GDP, because we want a prudent budget; we want a credible budget,” he said.

Mr. Udoma futher said the council was working on the exchange rate that the Central Bank of Nigeria had given for the budget, adding that it was also looking into whether fuel subsidy would be retained in 2016.

According to him, government is projecting almost 30 per cent of the budget on capital projects, up from the 15 per cent or so that it is currently.

“We will try and reduce overheads, but keep personnel cost; we are not going to adjust it by much.

“But we are expecting some savings from the Integrated Payroll and Personnel Information System, IPPIS, which we are using; so we are not cutting anybody’s salary; everybody will get their salaries,” the minister said.

The minister, however, declined to mention how much of the looted funds had been recovered by the government so far.

(NAN)


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  • Very Proud Oily IZON Redeemer

    EXPOSED! Sanusi Stole Billions From CBN Account Before Suspension ; FRC Audit Exposes Fraud & Funds Diversion

    When the Financial Reporting Council Report was sent to Mallam Sanusi Lamido Sanusi on June 25, 2013, he’s fully aware that the game is over.

    He allegedly brewed up his NNPC allegations to divert Nigerians attention from him by writing the president on September 27, 2013.

    He succeeded in deceiving some, but his frauds can NEVER be covered even by Buhari who is doing all to hide the thef of CBN money by Sanusi who gave Buhari over a 100m dollars to fight Jonathan in 2011.

    Here are few of his fraudulent activities exposed by FRC audit
    1] He donated N1b to BUK, Kano and wrote that he donated N4 million.
    2] He wrote N40b debt of a bank without documentation and authority.
    3] He invested $Billions in Malaysia Islamic Bank with no return on Investment to Nigeria.
    4] He awarded 63 contracts valued over N1b each, without approval
    5] He spent N1.257b for Lunch for his Police and Private Guards in a year.
    6] He donated N1billion to a political party to build offices Nationwide.
    7] He spent N4.5b to renovates his personal home without approval.
    8] He spent N4billion on a CBN PH branch building that was already completed.
    9] He wrote N2b Bogus checks to Airlines (some not registered in Nigeria) to distribute currency.
    10) Claimed paying Nigerian Security Printing & Minting in 2011 N38.233b for the “printing of bank notes”. Company’s turnover in 2011 is only group is N29.370b from all customers including CBN.
    11) Associated Airline was paid N1.025b in 2011, while the company was Dormant in the same year. (No Operation).

    Operated Bogus Expense Heads To Hide Fraudulent Activities

    … CBN Has Held An Account With A Balance Of N1.423 Billion For An Unknown Customer Since 2008… Buhari is a thief period

    • Tanko Maihula

      I beg take them to court…………

      • Otile

        What kind of court, sharia or kangaroo court?

    • Ha

      With all this evidence at hand you still couldn’t go to court. Do you really believe in what you are saying? Are you patriotic citizen? Or are you just a potential thief in waiting?

      • Rommel

        probably an online militant

    • Salisu m jikantoro

      I think, you are in ur jungle smoking ur India hm, My advice to you, if u want to write and post come back home do not seat at the jungle and start
      write enything because people we see you as a mad man.

    • New Nigerian

      You have neglected taking your medication again….

  • Very Proud Oily IZON Redeemer

    This was the Buhari who was imposed on Nigerians by the USA because he swore to reduce waste in governance—–BUT LOOK AT HIS BUDGET A COMPLETE WASTE—–He promised to stop corruption but he is the most corrupt human on the surface on the earth—Besides the belated payment of the salaries of civil servants their ABUJA—–what can Buhari point to as being the area where he spent the 4.6 trillion budget for this year on? Now instead of pruning down the budget, he has increased it by almost 2 trillion–Is this not madness—-? Sadly this is the thieving monster the USA knowingly imposed on Nigerians–A complete rogue–Sadly the Nigerian elites who are supposed to talk have all gone to bed—–pretending all shall soon be well—because the Fulanis and Yorubas are now in power abi?-So my oil revenue can be spent as they like–Separation uis the only answer–not the rule of the Fulanis and Yorubas

  • Burning spear

    “Under the Leadership of President Goodluck Jonathan, Elections were conducted in Edo, Ondo, Ekiti, Anambra and Osun.
    These elections were all conducted on Saturdays, the results and winners were all released and declared on Sundays.
    ACN won in Edo, Labour Party winning in Ondo, PDP winning in Ekiti, APGA winning Anambra and APC winning in Osun. Please compare that to two elections conducted by Buhari so far.
    Competence is not noise making or propaganda. Nigeria sacrificed the best for nothing. Buhari is a shame——a global thief–he tries to pèaint Jonathan black while he steals—Jonathan gave us a budget of 4.6–now Buhari has upped it to 6 trillion–what for–can somebody help me out? Yet he cannot account for the 4.5 that was in the budget for this year-

  • Ade Omowest

    I am looking forward to the main opposition party executive (PDP) to critically look into this Federal Government’s proposal for the next year spending and come up through Chief Olisa Metuh the constructive criticism of the budget lay-out to enhance our democratic experience. Doing this objectively will not make Nigerians to democratically kill the tethered umbrella party.

    • Sir Demo

      Metuh critiquing? Impossicant! He can only criticize and wail!

    • New Nigerian

      Don’t hold your breath my friend. He is still smarting from the Dasuki probe …a foreboding for him

  • Otile

    It is very annoying reading about Nigerian budget. Every single Naira is pegged the barrel of oil. The zoo mumu leaders cannot fathom out any of other way of running the government without oil from the Niger Delta. No wonder they would rather commit genocide than let Biafra go. Pathetic.

    • Screw-em

      @ Otile, Ibo man with Yoruba mentality,–gragra oloje–. just hoist Biafra flag in central Onitsha and declare independence..Simple!!

  • Matho

    THE FIGURE ALONE MEANS NOTHING IF THE UNFUNDED LIABILITIES ARE CRITICAL.
    PENSIONS ASIDE, THE OTHER LIABILITIES THAT SHALL FALL DUE UNDER THIS BUDGET
    EXCEED THE ONE TRILLION NAIRA INCREASE, AND SO, IT IS ARITHMETICALLY IMPOSSIBLE
    TO PAY 25 MILLION PEOPLE 5,000 NAIRA (AS DOLE) AND COOK EVERYDAY FOR 4 MILLION
    SCHOOL PUPILS WITHIN THE ONE TRILLION NAIRA BUDGET INCREASE. THAT’S THE MATH.

    • kiliwi2000

      Please, i beg….factor stealing into the budget….and you will see budget deficit immediately…….
      …When you have a cabinet with Raji Fashola and Rotimi Amaechi….you must factor stealing……

      • dokita

        @disqus_0j8FDQ0cyL:disqus

        There’s nothing wrong with emphasis in sentence construction. Premium Times is correct.

        If you want to split hairs, find a misplaced coma or semi colon, but surely not lexis or structure.

  • Olusegun Dada

    Is there another Federal Government of Nigeria led by someone else? It is confusing to write: ‘President Mohammadu Buhari led Federal Government’. There is only one Federal government of Nigeria and one President of the Federal Republic of Nigeria.

  • Nuel

    Notice how the Minister said – They are using IPPIS to save money, IPPIS was introduced by NOI under GEJ’s admin. Same GEJ/NOI APC/Sanusi accused of stealing $1bn daily? If they wanted to steal, would NOI/GEJ introduce this tech/IPPIS – that has saved billions for Nigeria? Anyway, more revelations are on the way.

  • Michelle Messi

    Oh..they are still ‘looking into’ whether fuel ‘subsidy’ will be retained in 2016??
    INCREDIBLE!
    I thought same ‘mai gaskiya’ retorted; ‘WHICH SUBSIDY? SUBSIDISING WHAT??’..when asked about fuel subsidy during the previous regime.
    So why they ‘looking into’ the darn thing?? WHY DON’T THEY JUST REMOVE IT AND SELL FUEL TO NAIJAS AT N40/LITRE AS PROMISED?? OR HAS ‘MAI GASKIYA’ NOW SEEN THE GASKIYA?

    *why did the minister ‘decline’ to mention how much looted funds have been ‘recovered’ thus far? Was it really is decline or like the minister of Finance confessed; HE DOES NOT KNOW??
    ARE WE SURE THERE IS ANY ‘RECOVERED LOOT’ ANYWHERE EXCEPT ON THE LIPS OF THESE PROPAGANDISTS??

    • Otile

      Tactics comrade tactics. Things are getting better under Imam Mohamed Buhari. Prosperity is around the corner.

    • Sir Demo

      It is common sense that Nigeria is on a hole dug deeper by Jonadaft and his looting gang! For PMB to deliver as fast as you are wailing for, will require he is moreGMB than PMB a democrat. Africa needs now more than e ear, a BENEVOLENT DICTATOR in the mold of Vladimir Putin, Hugo Chavez or our own PAUL KAGAME.

      Nothing is more frustrating to know the looters and saboteurs but you can’t move against them cos of a perverted rule of law. To wrestle with pigs, ones must be ready to get dirty. These pigs must be wrestled and defeated PMB! Be tougher! The wailers will wail definitely but that is the purpose of their existence.

  • Otile

    Verily verily I say onto you Islam is not a religion of peace. Just listen to a popular American Presidential candidate – Republican presidential candidate Donald Trump has called for a “total and complete” halt to Muslims entering the US, in the wake of the deadly California shootings.

    He said that polling showed a “hatred” by Muslims towards Americans that could put the nation at risk. The border shutdown should remain “until our country’s representatives can figure out what is going on”.

    • Uncle Gaga (Bruce Wayne)

      Donald Trump did not call for anything like what you are saying because quite frankly, he is a private citizen and has only 1 vote. His statement was just red meat for the far right wing of the Republcan party saying he will ban Muslim immigration IF HE BECOMES PRESIDENT!
      Did he not also say he saw “thousands and thousands” of American Muslims celebrating the destruction of the Twin Towers? A statement that everyone and their mother have shown to be lies.
      Even if he does call for a ban on Muslim immigration to the US, it means nothing. It is like you saying it. Go and tell itto the rats in the swamps……maybe they will hear you.

      • Otile

        Your exposure is like a rat in the swamp. BBC world service carried the news and pictures of Honorable Trump saying this. This was also headline news if you don’t know. In your arrogance can you dismiss BBC news as meaning nothing? Islam is a bane on society.

        • Sir Demo

          Obama had a Muslim father yes! He grow up among Muslims in Indonesia yes! He changed his name from a xtian Barry a corrupted version by his granny back to Barak yes! But he is today a xtian yes! So he knows about divine messages, about the establishment. and that perverted, hatefull souls like you abound everywhere. He will not say what a Trump will say. The same DT riled against Latinos and Blacks.

          You are just one of his types. It is quite strange that gene, race and even distance could not stand btw you NAZISTS lots. Even among Jews, there are Bibis and there are Rabins even Livnis, Simon Peres!

          • Uncle Gaga (Bruce Wayne)

            He has no idea of what Trump thinks about people with his skin color. If he was a reasonable person, we would be too ashamed to repeat anything that Trump says.

        • Uncle Gaga (Bruce Wayne)

          OK, we withdraw the first part of our comment. The error is not yours, you were simply ‘parroting’ what someone else said. With that said, the rest of our comment remains solid.

        • New Nigerian

          Even The donald would crack up with you calling him Honorable Trump – It is an oxymoron

    • quirky

      Otile,

      ISLAM IN THE PUBLIC ASSESSMENT IS JUST THE BY-WORD FOR ILLITERACY.

      20TH CENTURY HISTORY SHOWS THAT NO MUSLIM EVER DID REFORMS SENSIBLY.

      • Good Samaritan

        Your brain will need to be checked for lack of purpose and effective reasoning. Islam, in its form means peace and nothing else. A true Muslim has no association with hatred or illiteracy. Mind you science and mathematics got a part of their foundations from Islam.

        • ms. akindele

          @disqus_haxsxX55i6:disqus

          I don’t know why. Anytime i hear the word ISLAM i think of extreme violence, bloodiness,
          uncouth conduct, riff-raff behavior, beheading, primitive and local people. I don’t know why.

          • New Nigerian

            London, England (CNN) — Think of the origins of that staple of modern life, the cup of coffee, and Italy often springs to mind.

            But in fact, Yemen is where the ubiquitous brew has its true origins.

            Along with the first university, and even the toothbrush, it is among surprising Muslim inventions that have shaped the world we live in today.

            The origins of these fundamental ideas and objects — the basis of everything from the bicycle to musical scales — are the focus of “1001 Inventions,” a book celebrating “the forgotten” history of 1,000 years of Muslim heritage.

            “There’s a hole in our knowledge, we leap frog from the Renaissance to the Greeks,” professor Salim al-Hassani, Chairman of the Foundation for Science, Technology and Civilisation, and editor of the book told CNN.

            “1001 Inventions” is now an exhibition at London’s Science Museum. Hassani hopes the exhibition will highlight the contributions of non-Western cultures — like the Muslim empire that once covered Spain and Portugal, Southern Italy and stretched as far as parts of China — to present day civilization.

            Hospitals as we know them today, with wards and teaching centers, come from 9th century Egypt
            –professor Salim al-Hassani

            Here Hassani shares his top 10 outstanding Muslim inventions:

            1. Surgery

            Around the year 1,000, the celebrated doctor Al Zahrawipublished a 1,500 page illustrated encyclopedia of surgery that was used in Europe as a medical reference for the next 500 years. Among his many inventions, Zahrawi discovered the use of dissolving cat gut to stitch wounds — beforehand a second surgery had to be performed to remove sutures. He also reportedly performed the first caesarean operation and created the first pair of forceps.

            2. Coffee

            Now the Western world’s drink du jour, coffee was first brewed in Yemen around the 9th century. In its earliest days, coffee helped Sufis stay up during late nights of devotion. Later brought to Cairo by a group of students, the coffee buzz soon caught on around the empire. By the 13th century it reached Turkey, but not until the 16th century did the beans start boiling in Europe, brought to Italy by a Venetian trader.

            3. Flying machine

            “Abbas ibn Firnas was the first person to make a real attempt to construct a flying machine and fly,” said Hassani. In the 9th century he designed a winged apparatus, roughly resembling a bird costume. In his most famous trial near Cordoba in Spain, Firnas flew upward for a few moments, before falling to the ground and partially breaking his back. His designs would undoubtedly have been an inspiration for famed Italian artist and inventor Leonardo da Vinci’s hundreds of years later, said Hassani.

            4. University

            In 859 a young princess named Fatima al-Firhi founded the first degree-granting university in Fez, Morocco. Her sister Miriam founded an adjacent mosque and together the complex became the al-Qarawiyyin Mosque and University. Still operating almost 1,200 years later, Hassani says he hopes the center will remind people that learning is at the core of the Islamic tradition and that the story of the al-Firhi sisters will inspire young Muslim women around the world today.

            5. Algebra

            The word algebra comes from the title of a Persian mathematician’s famous 9th century treatise “Kitab al-Jabr Wa l-Mugabala” which translates roughly as “The Book of Reasoning and Balancing.” Built on the roots of Greek and Hindu systems, the new algebraic order was a unifying system for rational numbers, irrational numbers and geometrical magnitudes. The same mathematician, Al-Khwarizmi, was also the first to introduce the concept of raising a number to a power.

            6. Optics

            “Many of the most important advances in the study of optics come from the Muslim world,” says Hassani. Around the year 1000 Ibn al-Haitham proved that humans see objects by light reflecting off of them and entering the eye, dismissing Euclid and Ptolemy’s theories that light was emitted from the eye itself. This great Muslim physicist also discovered the camera obscura phenomenon, which explains how the eye sees images upright due to the connection between the optic nerve and the brain.

            7. Music

            Muslim musicians have had a profound impact on Europe, dating back to Charlemagne tried to compete with the music of Baghdad and Cordoba, according to Hassani. Among many instruments that arrived in Europe through the Middle East are the lute and the rahab, an ancestor of the violin. Modern musical scales are also said to derive from the Arabic alphabet.

            8. Toothbrush

            According to Hassani, the Prophet Mohammed popularized the use of the first toothbrush in around 600. Using a twig from the Meswak tree, he cleaned his teeth and freshened his breath. Substances similar to Meswak are used in modern toothpaste.

            9. The crank

            Many of the basics of modern automatics were first put to use in the Muslim world, including the revolutionary crank-connecting rod system. By converting rotary motion to linear motion, the crank enables the lifting of heavy objects with relative ease. This technology, discovered by Al-Jazari in the 12th century, exploded across the globe, leading to everything from the bicycle to the internal combustion engine.

            10. Hospitals

            “Hospitals as we know them today, with wards and teaching centers, come from 9th century Egypt,” explained Hassani. The first such medical center was the Ahmad ibn Tulun Hospital, founded in 872 in Cairo. Tulun hospital provided free care for anyone who needed it — a policy based on the Muslim tradition of caring for all who are sick. From Cairo, such hospitals spread around the Muslim world.

    • Sir Demo

      So? Millions of Muslim in Nigeria and few in Biafraud will remain so UNTIL THE END OF YOUR MISERABLE LIFE AND AFTER TILL THE DAY OF JUDGEMENT!

      So, what is the purpose of your ranting? In the US that refer to, Muslims entering is not an issue. What about black Americans reverting en mass? Why is Islam the fastest growing religion in the world? High fertility rate? Rate of reversion? The sublime message?

  • dede

    Premium Times Editor,

    First thing first. Please mention just one person appointed by President Buhari
    either as committee member, or as Assistant, or as Adviser, or as Minister whom
    you can authoritatively say has an irrefutable public reputation for pure honesty?
    Without answering that question on the character of those to implement this 2016
    national budget, i am afraid that your just looking at the figures is not wise, please!!

    • Kiliwi2000

      Please, i beg….factor stealing into the budget….and you will see budget deficit immediately…….
      …When you have a cabinet with Raji Fashola and Rotimi Amaechi….you must factor stealing……

    • Sir Demo

      Which committee? I know only of Sagay’s! Advisers? And Adeshina and Shehu Garba are not reputable enough? Ministers? The SFG is a Pastor for goodness sake! Ministers? If Audu, Adeosun, Ogbonaya, Malami, Kachikwu, Fashola, Shittu, Enelamah, Al Hassan etc are not, who in your perverted logic and mind are?

  • Romberg

    I thought they said 2016 budget will reflect a diversified Nigerian economy? There is nothing original in this government and its budget – it’s same old thing; more wrong this time as nothing has changed for the better.

    This style of budgeting is like doing wuru wuru to the answer. Where is planning in all of these? We have moved from 3 years forward budgeting to a purposeless budget.

    Take N1.5tr payout away from N6tn, you’d be left with N4.5tr. Take N1.8tn CAPEX away from this, we are left with N2.7tr. Take fuel subsidy (N1tr) and politicians’ salaries (N1tr) from this, we are left with N700b, which will not be sufficient for the war against terror. This means states will continue to struggle to pay salaries while FG is giving out sickening cash to 25% of Nigeria’s unemployed youth. By the way, the cost of administering same is not included yet (bank fees etc).

    Now here are the real question, where is the funding for health, policing, education and research, science and technology, divestment, power, job creation, prisons, foreign missions….

    Nigerians are to expect to buy fuel at N40 Naira per litter this year. Will this happen? How much of infrastructure (for which we lack planning anyway) is N1.8tr going to do?

    If this government could stop its inaccuracies and lies, Nigerians will be better for it. As things stand, we are nowhere near reality.

    • Mockme

      You are real!

    • salisurabeh

      Do you really understand the federal budget which is different from federation revenue?

      Federal Government does not make budget for states. In fact many states have already concluded their budgets.

      On the Federal budget, have you seen the details? Where did you get the expenditure lines you are bandying about?

      If the past government budgeted five trillion on a bench mark of $62 and the present government has budgeted six trillion on a benchmark of $38 crude price, you would at least be modest to give them kudos for trying to diversify the revenue base and insulate the economy from oil price shocks. That is the clearest picture from the little we now know of the budget.

      On all those whimsical figures about expenditure that you are bandying about, it is for now a figment of your imagination which even you, I am sure do not take serious.

      • emmanuel

        Shhhhh. This is same budget template usee last year. Increase expected crude production and reduce crude bench mark.
        Will the Crude be sold at Gwagwalada or kantikwori markets? Wonders of the deceivers.
        The same product when countries dey hawk for go-slow now and dem nor see people buy.
        Do these wizkids nit understand that VAT and more revenues come from payers in q vibrant economy. Are dey expecting a deqd Horse (deqd economy) to suddenly lead to vibrant spendings and consequent increased revenue?
        Meats from dead horses would rather be sold cheap to unsuspecting buyers and may never yield reasonable revenue!

      • Romberg

        I wont call you a moron, but you its a close call. Most states depend on federal allocation. If you are not aware of this, then ask Osun State.
        We know from the comments the government has released that N5,000 payout to 25 million unemployed youths will commence in 2016. Is that a lie? That is N1.5tr. But in addition to this, you have to add administrative costs! – this is not included in the budget. The same government in promised 30% of the budget on infrastructure spending – i.e. N1.8tr. Is that a lie too? Just few days ago N500b was passed as Supp budget for oil subsidy for Nov-Dec 2015. Consider N1tr as subsidy for the whole of 2016 and N1tr as recurrent expenditure for federal parastatals (including salaries for your superfat political thieves). This will mean that we only have N700b left for states and local governments to share. Apart from capital (infrastructure) and recurrent expenditure, other sectors of the economy will suffer – health, security, foreign missions, education, power, communication, research. If you have a brain to think you will know that a spending government during an austere period is more of a blind government. If you have to spend, spend wisely on nation building. For example, if the N1.5tr handout will not happen, there will be life in our crucial sectors. If subsidy is removed, there will be much more life in our education, road, rail etc.
        Think about 2.2 mbd @ $38. That is $83.6m (N16.76bn) everyday. You only need 356 days in a year at this rate to achieve N6tr. There is no evidence of diversity in the income stream – just oil!
        Through MTN’s fine alone, 10% of the budget is already met. Customs? IGR? Agric? Aviation?
        The point I am making is that there is the need to bring in money from other sources other than oil. If you don’t get this, then I can’t help you.

    • Sir Demo

      What is point aside from the grandstanding claims to what you know nothing about. Diversified economy? So industry will be built in 6 months. By the way THIS IS STILL JUST A PROJECTION. One have to wonder where ur brain and MOUTH was under GEJ. That this govt could budget more than last year when crude price has falling from $140 to $35 per barrel is commendable, very commendable.

      What do u mean by CAPEX anyway, baby accountant?

      • Romberg

        What is the sense of replying you? PDP has stolen your common sense too. Multiply 2.2mbd by $38 benchmark price. There is no helping you, but I bet you will come back honking your liver out that this is the worst government in the history of Nigeria..
        CAPEX – capital expenditure.

        • Sir Demo

          So what is capital expenditure and what is spending on capital projects or infrastructures?

      • Romberg

        To fools, Diversifying the economy means creating industries!

    • gboromiro

      Where did you get your phantom sectoral allocation, naysayer, loser, scoffer?
      Show us your analyses of budget allocation during GEJ’s administration in comparison with the nuanced one of today.
      I bet your lie would be revealed to be as white as the snow.

      • Romberg

        I know y’all dummies will feign ignorance as if there will be no fuel subsidy next year, as if the N5000 payout to 25 million people and the 30% CAPEX announced by Lie Mohammed yesterday, recurrent expenditure etc are all lies.

        We warned you about this government. We will not stop. You will come back honking your livers out that Nigeria is truly on the way to Greece. Awful no-brainer.

  • Yusuf

    the figure looks good and the fact that there is a MTEF in place. but 30% to capital exp means we are not changing anything. in fact anything less than 60% to capital exp means we will end up borrowing for our children to pay. it is very meaningless for governance to cost more than 25% (excluding cost of maintaining infrastructure).. no one can even take you guys serious until you have a serious banker in place, not a banker that enjoys a crazily volatile exchange rate. the fact that you can not come up with an exchange rate drive home the fact that cbn is confused about it

    • Mockme

      Tell that to NASS. Our governments are not serious. How can poor citizens live just by their salaries, no merited allowances, no nothing but these thieves live on allowances more than their salaries and their work is simply to make Nigerians angry and sad daily?

    • Sir Demo

      That is the rot inherited from the past govt. To reduce the personnel cost, salary must be cut or some of the staffs lay off, neither of which is practical. At our level of industrialization, and neglect of the other sectors due to the oil earning, the Dutch Disease, the govt is now the biggest employer. It will take more than 6 years to transform out of that. PMB must however lay the basis.

      It is really sad that GEJ earned $69 billion dollars tax from oil in 2013 alone, still accumulated debt, and nothing to show. The crude was around $135 per barrel then, compare to about $35 now. Same staff strength! The only saving grace is that looting has been drastically reduced.

    • Oladapo Sunday

      I was hoping we will have 70% on capital but that will mean a lot of trouble as workers will have to be downsized and so much more. the 30% is a proposal o which any money saved on other should be expended.

      With a serious govt, 30% will be as well feasible to see.

  • Michael Anibaba

    EDITOR PREMIUM TIMES,

    An event happened in London on 3rd of December. It was grave.
    The President of Ghana was angry. He was about to deal deadly slaps
    on the face of Nigeria’s former president – Olusegun Obasanjo. But luckily the
    Ugandan President sprang to his feet from his seat to restrain the infuriated
    President of Ghana. Can you give us a good reason under media law why you
    did not report this grave diplomatic event? We are waiting, we are all ears, please!
    Had President Mahama of Ghana dealt Olusegun Obasanjo those deadly slaps,
    would you have blocked that one too? If yes, are you so gory that unless you saw
    blood gushing you would not consider any event grave enough for mention?

    • Burning spear

      is obj not a member of the cabal that established Premium Times———————————————fro the Fulanis ati Yorubas-? Why should such an event be publised by them?

  • Very Proud Oily IZON Redeemer

    There is nothing like a 3 year National planning budget that will move the Nation forward————It is the same stealing unlimited habit that Buhari has introduced to deceive Nigerians——–Buhari and his government are not for change——if not why should Buhari plan to produce more thasn 2.2m barrels of crude oil and at the same time attemtp to create trouble in the SS? Nigeria under Muhammadu Buhari’s government is swiftly becoming a militarized zone.Nigerian soldiers were deployed to intimidate and stifle the efforts of Nigerians in the State of Bayelsa instead of sending them to the war front in the North East-Those who came out to vote for a governor of their choice are being arrested and locked up. Instead of collating the number of votes cast, Nigerians are counting number of citizens felled by the bullets of these uniformed Buhari Gestapos who were deployed to favor Buhari’s party, the APC. This is the worst government in our over 50 years history of freedom——from the Brits—————A complete disaster–if not a curse to the Nation-Now we have a senseless first year rubbish called a year long budget–whatever that means to the thieves in APC. The entire budget is still projected on the sale of 2.2m barrels of crude oil from the South south—No contribtion from the Fulani North———beyond imposing their thieving elites on Nigerians-from INEC, CUSTOMS-NIMASA ati the sale of crude oil blocks to themselves in the Fulani North ati south west-

  • emmanuel

    The last administration achieved capital budget of 27%. If the administartion of the self-acclaimed wizkids is doing only 30% with N1.4trillion spike in total spending, then they are a bunch of noise makers and nothing more
    One would expect that the additional N1.4 trillion be injected directly into capital spending and that would automatically re invigorate our infrastructure and put more money in the hand of the spending public?
    How it works :
    – pay a construction company and they pay suppliers, bankers, taxes, salaries, staff build houses, pay children school fee and infrastructures are renewed or created.
    – pay cash for purchase of cutleriee at the villa and some other repeated yearly recurrent spendings, fictitious travel expenses and trainings, the monies are diverted, owambe are held, girl friends are serviced, slush funds are taken abroad etc.
    Which of the two is better?
    Meanwhile, all the so-callee false returned stolen monies bandied by Bokohari are still held in the bermuda triangle by UFO’s. A lying president who compounds his woes with regular lies.

    • New Nigerian

      Emmanual – You must know that last administration just shared money and wrote up stuff. have you not be reading about all the billions that are now showing up, here and there, in private hands? Please leave all these numbers you are quoting aside.

      • Oladapo Sunday

        he has been sleeping

      • emmanuel

        Your parents just wasted their money on sending you to school. They may have had better value with that money if they built a three Bedroom Bungalow somewhere at Ijoko, Ogun State and the balance would have been enought for learning Tailoring work.
        The reason being. That your ability to process information is just a little less than that of cut and sow Tailor.
        For your information, what will be borrowed by this FG to finance the deficit in the budget alis the equivalent of the addition they added to 2015. So who is fooling who?

        • New Nigerian

          It is exactly because of your kind of thinking that we are fighting hard to get boys to go to school in Ndigbo right now. Civility is a sign of a good education. And you are truly educated when you can present your point of view without seeking to disparage, demean or result to demagoguery. And as for Parents – well you have just shared how much you appreciate yours. I say love your parents. Good luck.

    • Oladapo Sunday

      you have been sleeping and just up, please sleep on, 27%…lollllllll

  • Very Proud Oily IZON Redeemer

    (President Mohammadu Buhari’s nauseating incompetence is trying to kill. President Buhari’s continued fumbling, flubbing and fluffing have constituted the music for Nigeria’s macabre dance. President Buhari’s incompetence, ineptitude and ineffectualness are beating the drums at a higher crescendo for this macabre dance. The hope of the believers of and in Mohammadu Buhari is fading fast. Their ranks are reducing. Their numbers are decreasing by the day.
    Given all the unrelenting manifestations of political, social and economic malfeasance that is contaminating the Nigerian atmosphere, it is very difficult, if you have the means to speak out and not speak out. Posterity will ask you your own contribution. Did you collaborate with those who enslaved your people and exploit them to no end? Or did you speak out against the evil of greed, corruption and political dealership? Did you conspire to deceive and mislead your people? Or you spoke out against dishonesty and doublespeak?)

    • aruthoho

      I fail to see the basis for this unguarded outburst. What is double speaking in a budget proposal that you are ranting like someone bitten by a dog?

    • shag

      I don’t know why i am having this feelings that you must be an educated illiterate. You just want to heard or are you equally suffering from diarrhea of the brain? Or you are one of those animals in the creek crying for civilization? Modern Nigeria is not for your likes and stop this inferiority complex that have swallowed you up.

    • New Nigerian

      You must take your medication or see your clergyman. Let us know your minder so we can help somehow.

    • Ade

      Ogogoro has destroyed your fish brain. Please visit a psychiatrist as soon as possible.

  • MushinSpeaks

    This is really a difficult situation; no one should envy this government as it has more deliverables bearing in mind dwindling revenue. Lets garner support and goodwill to make the Buhari-APC led govt achieved its manifestoes.

  • Holyman

    IS THERE ANYTHING INSIDE THE NIGERIAN 2016 BUDGET TO FIGHT BOKO HARAM?

    ISLAMIST TERRORISM IS NOT ENDING SOON – MOSCOW WAS BOMBED LAST NIGHT.

  • Michelle Messi

    @premium Times;
    Sorry please, but is it true one kashamu’s election as a Senator representing Ogun state has been upheld by the court of Appeal???
    If yes, please what criteria do you use in selecting which news to report and which not to??
    I ask this because word has been going round for some time now that you guys are APC hatchet men.
    Sorry, just asking…

    • Oladapo Sunday

      send them a mail or twit, they cannot read all comment.

    • emmanuel

      The APC media arm; PT is a media outfit run by a gang of media roddents who found themselves in public sphere and never learnt the rules of public behavior or corporate attitude.
      Do not quarrel over this issue, because they have never controverted the fact that they are an arm of the APC, just like the Nation, Punch, SR, TVC and by extension Channels

  • favourtalk

    At the end, nigerians are happy for the good leadership style of PMB so far in terms of security, electricity and oil and gas. We didn’t make any mistake at all

  • Rommel

    At $38 benchmark,this is indeed a very ambitious budget proposal and Nigerians need to buckle to this government,the building of Nigeria has started,no more going backwards,those that stole our money must return it and then receive severe punishment for their wickedness.Nigeria could have been miles ahead of where we are today.

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  • Sullyaman

    President Buhari wrong again……..

    President Buhari advises himself wrongly on
    policy. It is plain wrong for any president to comment or to disclaim a bill
    under consideration in parliament. It is as bad as a president commenting on a
    court case under consideration by Judges. Separation of power covers both
    instances. President Buhari is seeking popularity at the expense of the Legislature.
    He’s invited tit-for-tat. When in future he initiates executive deliberation on
    a bill the Senate may justifiably speak up and shoot down his executive
    proposal despite it not having been fully argued in executive committee or
    delivered to the Legislature as a bill for an Act. President Buhari’s aides and
    appointees don’t show good judgment, that is if they advised this folly, but if
    President Buhari otherwise advised himself, as likely, he will live to regret his
    blunder of interference with legislative process.

    • Wolly

      @Sullyaman,

      You mean the Media Bill being debated by the Senate? Yes, i was wondering why President Buhari
      put his mouth into it. Buhari was not elected as a Senator. He has no locus standi. The bill is yet to be
      voted upon by Senate in plenary. The Senate alone cannot pass a law. The House of Representatives
      still has to consider the same bill separately, debate it separately and pass it in the same wording or go to
      joint conference with the Senate for harmonization. In that arduous process, supposedly obnoxious clauses
      would not likely survive, if constituents kick against those clauses. I can’t understand Buhari jumping the gun.

      • Basheer Shehu Zagga

        Naija…..does been a president disqualify Muhammad buhari from his citizenry right? Didn’t he have a constituency which he belongs to? Is Buhari not a Nigerian? Must he watches all that national assembly are doing without insights….. No….that can’t happen, when national assembly did harm to this nation… ..you people will shout Buhari’s government….. Pls keep sentiments aside….. be just to ourselves.

        • Olamide

          He is a real SULE

    • Oladapo Sunday

      same sule?

  • FreeNigeria

    This is the beginning of good things to come from this administration. Hopefully NASS won’t pad it with their nonsense.

  • excel

    The CHANGE is becoming clearer as the day goes on, Okonjo Iweala and Jonathan are the biggest criminals to have governed this country. Close to 50% of our earnings was undisclosed and kept away from the national budget. They simply mismanaged trillions of naira without budgetary appropriation.
    Even with the N4trillion estimate, our budget never performed beyond 50% at best. what is obvious to all discerning mind is that we now have a president who will not hide away the country’s revenue earnings. All loopholes of revenue misappropriation is being blocked. The era of extra budgetary spending is over as all revenues generated will be brought to account in the national budget.

    • Mo Mody

      Oh please, save us the bla blab. Just four weeks ago Yemi Osinbajo and Kemi Adeosun promised Nigerians a hefty Budget inrease to N 8 trillion for 2016 including an infrastructure fund on the basis of private and public financing. Today the story is a different one. As it seems Osinbajo and Adeosun did not know what they were talking about or do not have Buhari’s trust. So please save us your nosie which does not get Nigerians anywhere.

      • Uncle Gaga (Bruce Wayne)

        Your reply to excel does not address the issues he/she raised implying your tacit agreement. Your segue into “budgetary promises” however is childlike and disturbing. There is no healthy debate when all you can do is point fingers. Alas. there is no debate at all.

        Sadly this is not particular to you. a whole lot of people here engage in this type of behavior when confronted with something with which they disagree. Instead of plainly making their case, they bring up a completely different topic, in your case, Osibanjo’s promise of N8T budget for 2016.

        If one even cares to investigate, they will find that your use of the word “promise” is sketchy at best. you probably just used it to make yourself sound like you have a point,,,and your so-called ‘promise’ is no promise at all.
        Please act with some intelligence. If someone accuses you or stealing, defend yourself by plainly outlining why the person is wrong and/or why you are innocent. Saying your accuser stole as well is not a defese. It is a confession!

        • Mo Mody

          For me it makes no sense discussing with most of you on the topic because you do not seem to understand it anyway. The unfortunate thing is that your politicians are not different. You use every opportunity to dish out buzz words which you do not seem to understand anyway. You spread lies which you term “propaganda” in Nigeria. It is disgusting and not worth the time. Just forget it.

        • emmanuel

          Read my reply to excel, El-Rufai’s boy!

    • emmanuel

      Maga, they only raised the spending by N1.4 trillion above Okonjo Iweala’s last budget and are borrowing about same amount to finance the deficit. What does that tell you? Nothing new, except that they are going to plunge us into more debts, owe contractors the more, which is tantamount to killing a dying economy.
      Osinbajo who knows next to nothing about economy is euphoric about leadership, so he brought in another of his type from Ogun state to run Finance ministry, who began with N8 trillion budget story just like his lies early in May 2015 of “this administration is leaving behind a whopping external debt of $62 billion” when in truth it was $9 billion.
      Now compare a years borrowing of about N1.4 trillion to fund the 2016 budget deficit; converted at N199.00 to $1.00 and you would know where our debt profile will be at the end of 2016.

      • Olamide

        Excel has raised very good points and all i see here is you trying to attack him. It is fundamental to know that it takes a right thinking government/administration to understand how the masses/ electorates would benefit rather than suffer in its administration. GEJ’s led government was a scam. Nigerias treasury was looted and you come here to spit out of records.

  • Good News

    OBTAIN 2015 nation promotional offer of (CEMENT AND RICE). direct from
    the factory at the rate of #1000 naira per bag from buyers buying from
    100 bags and above while that of the RICE is #5000 for buyers buying
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    O&1367398O9. Booking and delivering takes two days..

  • Olamide

    Facts and statistical analysis of a focused government. The change we crave for

  • Atunde Adeola Yusuf

    FOR CCTV INSTALLATION AND SECURITY PRODUCTS, ACCESS CONTROL HAND
    HELD AND WALK THROUGH METAL DETECTORS, ALTERNATIVE ENERGY(SOLAR INSTALLATIONS,
    INVERTERS, )NAVIGATION SYSTEMS, ELECTRIC FENCING, REMOTE GATE, AUTOMATION ETC

    ADDRESS SUITE 19 OLIVE PLAZA OFF AMINU KANO CRESCENT AMINU KANO CRECENT ABUJA

    OR 34 JOHNSON STREET OFF BODE THOMAS SURULERE LAGOS

    CALL
    08186948992//